Doing market research

Before moving forward with your business idea, it is important to get the facts. Completing basic research - like market research - can save time, money and a lot of heartache. Let’s start with the basics that apply to all aspiring business owners: Do you have an idea or a business opportunity? An idea is fun to talk about, but a market opportunity can make you money. To have a real business, you have to:

• find people who will be willing to pay for your product or service (there have to be enough of them to make it worth your while) – research market potential using census data and demographic databases
• deliver the service or manufacture the product – research production options using business databases
• know who you compete with – research competitors using business databases
• understand whether your product is unique or proprietary – research patent filings

Go to  and search for Business Research to find libraries and others who can help you.